Are Zillow’s Zestimates accurate?

By Caroline Abkar, 9/10/2019

 

Everyone knows about Zillow’s Zestimate’s and millions of users look them up, but how accurate are they and can you use them at face value?

The key items to remember after watching this video are the following:

  1. Zillow’s website describes Zestimates as a starting point. It should not be used a a final sales price. They also encourage discussing the home price with a professional.
  2. Zillow has not been inside your home and does not know the specifics such as location, lot shape, functional layout, views, upgrades, traffic patterns, and walkability.
  3. Zillow’s Zestimate uses data points from homes in a much larger geographical area than your neighborhood. Each neighborhood has its own characteristics and desirability though, which also need to be taken into account.
  4. Zillow’s Zestimate does not take into account the current market conditions i.e. the other comparable homes for sale at the same time as your home, and how your home compares in price, condition, and location. That will help you ensue you are positioned for success!

Please remember to always partner with a knowledgeable professional who will look out for your best interests, from start to finish!

Questions? Comments? I’m happy to help.

Caroline

Posted on September 10, 2019 at 10:51 pm
Caroline Abkar | Category: Real Estate Tidbits | Tagged , , , , , ,

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